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Production Cost Report
Aussie Yarn Co. is a U.S. producer of woolen yarn made from wool imported from Australia. Raw wool is processed, spun, and finished before being shipped out to knitting and weaving companies. Material is added in the beginning of processing, and conversion costs are added evenly throughout processing.
Aussie began the month of August with 6,400 units in process that were 100 percent complete as to materials and 70 percent complete as to labor and overhead. It started 29,400 units into production during the month of August of which 5,400 remained in ending Work in Process inventory and were 50 percent complete as to conversion costs. The cost data are as follows:
Prepare a production cost report for the month of August.
Critically evaluate the social, cultural or political implications of either the planning, controlling or decision making elements of management accounting.
Mobile Battery features more than the dozen brands of batteries in many sizes. Two of the brands are PowerPlus and SuperPower. The following information about two brands was obtained. Selling prices comprise installation costs. Each battery costs ..
Vintech Company is planning to produce 1,800 units of product in 2011. Each unit requires 4 pounds of materials at $6 per pound and a half hour of labor at $17 per hour. The overhead rate is 70% of direct labor
Two comments frequently are mentioned in relation to standard costing and variance analysis: "Variances are not explanations" and "Management's goal is not to minimize variances."
Camping for Fun, Inc., produces a variety of camping products on a year-round basis. The best-selling item is a compact portable camping stove made from sheets of rust-free aluminum.
Assuming that three units of product A are sold for every four units of product B, calculate the dollar sales volume necessary to break-even. As part of its cost accounting routine, Wilcox Company assigns $36,000 in fixed costs to each product e..
Discuss how a budget could help you personally or your organization accomplish the objectives of long range plan developed for you personally or for your organization.
Katara Enterprises distributes a single product whose selling price is $36 and whose variable expense is $24 per unit. The company's monthly fixed expense is $12,000.
Do you believe that internal management accountants possess the degree of skill commonly possessed by outside accountants and auditors? Explain your reasoning.
Calculate the total simulated hours, total waiting time for the customer service team member, and the total wait time for the customer?
How many autoimmunity tests per year will have to be performed on the array machine to break even and given the present volume of tests, would there be an annual net contribution and, if so, how much?
Use a process costing system. 2,000 units were in process at the beginning of the period, 60% complete. 20,000 units were started into production during the period; 1,000 were in process at the end of the period, 60% complete.
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